When selling your home, understanding its value is one of the most critical steps in the process. A well-informed valuation helps you set a competitive asking price, attract the right buyers, and maximise your return. Here’s everything sellers need to know about property valuation, what factors influence it, and how to use valuation tools effectively.

WHY IS A VALUATION IMPORTANT?

Setting the right price is key to a successful sale. Price too high, and you risk scaring off potential buyers. Price too low, and you could leave money on the table. A thorough property valuation ensures:

• • You understand your home’s market position.

  • You attract serious buyers quickly.

  • You negotiate confidently with realistic expectations.

HOW IS YOUR HOME’S VALUE DETERMINED?

Most property valuations are based on a combination of recent comparable sales and specific features of your home.
Here’s what valuers (and buyers) typically look at:

1. Comparable sales
   Recent sales of similar properties in your area form the foundation of your home’s valuation. Factors include:

   • • Proximity (homes within 1 km of yours).

     • Sale dates (preferably within the last six months).

     • Similarity in size, style, and features.

2. Key features of your home
   Valuers assess specific attributes that impact your property’s value:

   1. • Total land size and internal square footage.

      • Number and type of rooms (e.g. bedrooms, bathrooms).

      • The building’s structure, presentation, and any faults.

      • Fixtures, fittings, architectural style, and quality of fit-out.

      • Proximity to schools, parks, transport, and amenities.

      • Topography, aspect (e.g. north-facing), and zoning restrictions.

3. Marketing conditions
   Local demand and supply trends also play a role in determining how much buyers are willing to pay for a property like yours.

WHICH VALUATION METHOD SHOULD I USE?

As a seller, you have several options for valuing your home:

Automated appraisal

• • What it is: Online tools that use algorithms to provide quick property value estimates based on recent sales data.

  • Best for: Getting an initial idea of your property’s worth.

  • Recommended Tool: Use realestate.com.au property calculator for reliable automated estimates. It’s quick (under a minute) and provides insights into comparable sales in your area.

Privately ordered valuation

• • What it is: A detailed report from a certified valuer that assesses all aspects of your property.

  • Best for: Sellers who want an unbiased opinion or are preparing for complex negotiations.

Bank valuation

• • What it is: A conservative valuation conducted by banks to determine loan amounts.

  • Best for: Mortgage refinancing but not recommended for setting a sale price.

PHASE TWO

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